Are the gains from the Dow's record real or just an illusion? Does high-frequency trading give insiders an unfair advantage? Nanex founder Eric Hunsader joins Markets Hub. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... we'll ... get to hitting the road to get ... what you doing today ... school began every week high of the index this morning ... of course represents a new ranking see the front page of The Wall Street Journal three sought front page every incorrect ... DAL leads to a record after forty years ... the Dow would hit the bottom for four years the Dow to get back to where was foreigner half years ago were still breaking it down here on the market of mine Paul vignette talk about what it means ... book on the stock you should put into an unintended ... and to discuss that didn't help break it down low that when Eric Hunsader founder and annex and they ... are real More Insider of analytics caught ... yes you really are ... ah so this is what I wanna ask you is ... how much of this rally at leasing even falling in for ... how much of this t think is sort of deal on ... just great you are the fundamentals ... and how much of this is the creation of these markets in these electronic it's all this electronic trading ... fallout of electronic trading and impacts things that happen in a very short ... time frame and when ... we were ... pre much focus on things that have been under a second yet filled ... the theater Willie they don't have the ability to really affect the longer fundamental picture ... so ... UTX isn't that something is indeed our record is any lady is yes bladder I see what it says you know ... how would you would you make of it ... you know feels alot like ... the nineties rally there was no fits and starts move for him and dropped a bit and just kept marching quietly forward ... um then again it to be like the seventeen story went back and forth for a decade ... he hit new highs Myra only default rate back down again this ... year on year in the good of the eye of the trader godly year begun its object ... lot of detail you he's done a lot on weak view holes and really knew what it feels great ... aam ... how much of this ... strike looking hasn't been right ... rally happened stocks are going up people are basically where they were decades ago or so ... I how much of this being captured by the retail investor and how much is it just beats up to the city talk about physical one second ... courses in which the team that is being sucked down by the insiders ... for the the wider ... buying a community can even cash out ... when people are buying in Albany and in investing in ... on my for one case of a regular basis are doing well because they're just there longer like ... Warren Buffett just buys never sell ... of you who were trying to trade around deserved you know maybe trying to do timing and may have missed it ... yet ... do you ... do you worry you saw the flash crash in twenty ten since then you use a lot of glitches or until a cake outlays kinds of things in the Knight Capital glitch led to his terrible for them ... we haven't had another issue with the flash crash in almost three years now ... do you fear that something like that is still so is market still susceptible to have a little bit actually it's on ... you'll be very careful but using Martore's you wanna be very careful about panicking ... aam a lot of time like for example CNBC during a flash crashes over a minute late and so when they receive a mean it was down was actually ... rallied right back up again ... you know when we act ... one of the war on buying hold or have some plan into place ... if you are saved by an old guy ... she even more in the flash crash I mean ... now she bright white ... you should just yet ... if that happens it obviously spectacular it's scary to ... go in the only problem is in the ... somebody has to sell and that they pour never reason that's ... their retirement they've saved up and is cashing out ... and so those people to different story maybe they're the ones who are victims and so there are victims here it's just ... this link will on any given day not a victim of pay parking and in New York ... that the day you are ... right its email now it's a big deal that ... I do it with the unstated think you're a much appreciate the time